A number of amendments to the Takeovers Code will come into force on 1 June 2013. The amendments are the culmination of a review of the Code conducted by the Panel between 2010 and 2012. The purpose of the amendments is to reduce the number of exemptions granted by the Panel and to make the Code more effective and efficient. The amendments are contained in the Takeovers Code Approval Order Amendment Notice 2013.

Details of the Panel’s recommendations for the amendments and discussion of their effects are in recommendation papers to the Minister of Commerce and consultation papers published on the Panel’s website: www.takeovers.govt.nz.

This article is a summary of the various changes to the Code. The headings contain cross-references to the relevant clause in the amendment regulations.

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